The U.S. Department of the Treasury recently published final regulations to further implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“) and to better address national security concerns resulting from certain investments and transactions in the U.S.

The Committee on Foreign Investment in the United States (“CFIUS”) is an interagency committee chaired by the U.S. Department of the Treasury and tasked with evaluating certain foreign investments and transactions for national security-related concerns. The new Treasury Department regulations become effective on February 13, 2020, and expand CFIUS’s authority to address risks arising from some types of investments and transactions formerly outside of CFIUS’s jurisdiction. Among other things, the new regulations implement CFIUS’s jurisdiction over non-controlling investments into certain U.S. businesses and over certain types of real estate transactions.